# In the matter of INDIAN TECHNOLIME COMPANY LIMITED

> NCLT judgment dated 2026-01-29. Citation: TCN-2026-NCLT-00145. The Central Bank of India filed an application under Section 7 of the IBC, 2016, initiating the…

- **Court:** NCLT
- **Order date:** 29 Jan 2026
- **Citation:** TCN-2026-NCLT-00145
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/indian-technolime-company-limited-05b00b94

## Summary

### Background

The Central Bank of India filed an application under Section 7 of the IBC, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against Indian Technolime Company Ltd. The Tribunal inadvertently appointed Mr. Vikram Bajaj as the Interim Resolution Professional (IRP) instead of Mr. Nitin Narang.

## Facts

Central Bank of India filed an application under Section 7 of the IBC, 2016 against Indian Technolime Company Ltd.

The Tribunal inadvertently appointed Mr. Vikram Bajaj as IRP instead of Mr. Nitin Narang in the order dated 08.01.2026.

Central Bank of India filed IA-193/ND/2026 for the replacement of Mr. Vikram Bajaj with Mr. Nitin Narang.

Mr. Hemant Sharma, initially proposed as RP, withdrew his consent.

The Tribunal directed that Mr. Nitin Narang would discharge the functions of IRP from 19.01.2026.

## Issues and analysis

### Issue 1: Whether the Tribunal can rectify its order to …

**Ratio:** Yes, the Tribunal has the power to rectify its order under Rule 11 read with 154 of the

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**Reasoning:** The application was filed seeking rectification of the order dated 08.01.2025 passed by

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**Interpretation:** The Tribunal has the inherent power to correct errors in its orders to ensure

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**Application:** The Tribunal rectified its order to replace Mr. Vikram Bajaj with Mr. Nitin

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## Parties

- **Judges:** Sh. Ashok Kumar…; Reena Sinh…
- **Appellants:** Central Bank of…
- **Respondents:** Indian Technolime…
- **Other parties:** Vikram…; Nitin N…; +1 more
- **Advocates:** Sumant…; Sarthak Bh…; +1 more

## Timeline

- **2026-01-08 — Initial…**: Tribunal inadvertently…
- **2026-01-19 — Consent…**: Tribunal considered the consent…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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